Stocks returned to the green zone Monday after single session break with improved turnover as investors took position on large and mid-cap stocks amid optimism.
The market opened with a positive note and the uptrend continued till the market closure. At the end of the session, the prime index of the Dhaka Stock Exchange (DSE) --- DSEX ended at 4,608.29 points, gaining 19.50 points or 0.42 per cent.
The other two indices saw sharp gains. The DS30, comprising blue chips rose 22.16 points or 1.33 per cent to close at 1,682.24 points. The DSE Index (DSES) went up by 15.40 points or 1.53 per cent to close at 1,019.67 points.
The market participation improved as turnover crossed Tk 5.0 billion-mark. The total turnover on DSE stood at Tk 5.05 billion, registering 9.54 per cent increase over the previous session's value of Tk 4.61 billion.
"The capital market reverted to gaining streak amidst improved turnover after single session break. Price appreciation of particular stocks - GP, BATBC, Square Pharma, Titas Gas - pushed the market in green zone," commented International Leasing Securities.
"Large and mid cap scrip's see-saw kept themarket positive despite majority of the traded scrip's price correction," said IDLC Investments.
"Apparently, search for safer investment during ongoing market downtrend turned Large Cap and few Mid Cap scrips most preferred to the market participants, said the merchant bank.
"Liquidity of those improved significantly crossing the historical boundaries, sometimes. As a result, probably, historically renowned safer corridor for investment was growing as 'Expensive' at valuation level, silently," the merchant bank added.
"Equity market exhibited positive momentum amid cue of positive data and flow of foreign money," said LankaBangla Securities.
DS30 strongly outperformed the benchmark index gaining 1.34 per cent as buyers continued to pump in fresh fund on index heavyweight stocks, said the stock broker.
While many of the major sectors ended the day showing only modest moves, substantial strength was visible among pharma, teleco and tannery stocks with 3.1 per cent, 4.3 per cent and 6.6 per cent gain respectively. Cement and Oil stocks also moved to the upside, while modest weakness was visible among financial stocks, said the stock broker.
"Investors are now pegging their hopes on further reform of the bourse to end a long running bear market which have shrunk overall market return and dampened investors' confidence," said Zenith Investments.
The losers, however, took a strong lead over the gainers as out of 289 issues traded, 184 declined, 80 advanced and 25 issues closed unchanged on the DSE floor.
Overall performances of banks, financial institutions, insurances - both life and general were weak, losing 08 per cent, 14 per cent, 16 per cent and 1.6 per cent respectively.
Among the other large cap sectors, telecommunications posted the highest gain of 4.26 per cent as both scrips - GP and BSCCL gained 4.4 per cent and 2.6 per cent respectively.
Food & allied and pharmaceuticals followed next with 3.41 per cent and 3.10 per cent gain respectively. Fuel & power advanced the least with 0.83 per cent gain.
Activities were mixed in the major bourse (DSE) where trade were up 11.27 per cent, but volume was down 0.6 per cent. A total of 0.096 million trades were executed with 70.40 million securities of trading volume.
The total market capitalization on DSE stood at Tk 2,930.36 billion against Tk 2,901.70 billion in the previous session.
Grameenphone (GP) became the top turnover leaders with shares worth Tk 626.12 million changing hands followed by Square Pharma, Padma Oil, Olympic and Heidelberg Cement.
The blue chip stocks dominated the turnover list. Telecommunications sector captured over 15 per cent of day's total turnover followed by fuel & power 14.94 per cent and pharmaceutical 13.01 per cent.
Apex Tannery was the day's highest gainer; posting a rise of 8.68 per cent while Uttara Bank was the day's worst losers, slumping by 14.19 per cent following its price adjustment after record date.
The port city bourse --- the Chittagong Stock Exchange (CSE)-- also closed marginally higher with its Selective Categories Index - CSCX gained 17.21 points to close at 8,941.88 points.
Losers beat gainers 158 to 49, with 12 issues remaining unchanged at the port city bourse that traded 6.40 million shares and mutual fund units with turnover value of Tk 434.08 million.
